Shaw Communications Inc will pay $830 million to purchase U.S. data center services provider ViaWest Inc, the Canadian media and cable company said on Thursday, in a deal aimed at bolstering its cloud computing credentials.Shaw said the acquisition from ViaWest majority owner Oak Hill Capital Partners and others would help accelerate the development of its Canadian data center platform. The deal is worth $1.2 billion, including the assumption of $370 million of net debt.Shares in Shaw slipped 2 percent to C$24.75 in morning trade on the Toronto Stock Exchange.Shaw said that ViaWest has 27 data centers, mostly in the U.S. Southwest, and that Shaw would keep the company in its Denver headquarters as a stand-alone subsidiary whose expertise can be made available to Shaw's own data management and cloud services customers.
Shaw Communications Inc. (Shaw) is a diversified Canadian communications company. Shares of SJR fell by 2.7% or $-0.68/share to $24.55. In the past year, the shares have traded as low as $21.77 and as high as $26.30. On average, 251641 shares of SJR exchange hands on a given day and today's volume is recorded at 175315.
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